- (1.) The petitioner No.1, namely, M/s. Concept Ventrues Pvt. Ltd. became the owner of the entire 15th floor, measuring about 9069 sq. ft. at Om Tower, 32 Chowringhee Road, Calcutta-700071, (hereinafter referred to as the said property) by virtue of the terms of settlement filed in CS 472 of 1998 which formed part of the compromise decree passed by the Hon'ble High Court. After being declared as owner of the said property the petitioner No.1 took over the possession of the said property from the erstwhile six owners thereof namely, (1) Aarpejay Construction Private Limited. (2) Aarpejay Properties Private Limited (3) Aarpejay Holding Private Limited (4) Essjay Holding Private Limited (5) Smt. Sushila Jhunjhunwalla and (6) Abhishek Jhunjhunwalla.
(2.) It is alleged by the petitioners that since they did not acquire the said property in a voluntary transaction, they could not ascertain the exact liability attached to it on various accounts before passing of the compromise decree.
(3.) They further claimed that even the erstwhile owners thereof did not inform them about their outstanding dues on account of arrear tax of the said property. After becoming owners of the said property they, on enquiry from the Municipal Authority, came to know that a sum of Rs.3,81,12,767.00 (Rupees three crore eighty one lakh twelve thousand seven hundred sixty seven) including interest of Rs.1,85,96,390.00 (Rupees one crore eighty five lakh ninety six thousand three hundred ninety) and penalty of Rs.25,45, 614.45 (Rupees twenty five lakh forty five thousand six hundred fourteen & forty five paise) remains due and payable on account of arrears rates and taxes of the said property since the financial year of 1996-97 till date. On further enquiry the petitioners' came to know that annual valuation of the said property had been fixed at an exorbitantly high quanta compared to the annual valuation of the comparable units in the selfsame building. It is contended by them that though the annual valuation of the other floors of the said building was calculated by accepting the rating value thereof as about Rs.5.00 per sq. ft. but the annual valuation of the petitioners' property was assessed by applying Rs.15/- per sq. ft. as the rating value of the said property. The petitioner became astonished to note the disparity between the ratable value which was accepted by the Municipal Authority for assessing the other floors of the said building and the ratable value accepted by the Municipal Authority for assessing the annual valuation of the petitioners property situated in the same building. The petitioners became disappointed by taking note of such irrational and illogical assessment of the annual valuation of the petitioners' property. As such the petitioners, by their letter dated 30th April, 2012 brought the aforesaid flaws in the assessment of the petitioners' property to the notice of the Municipal Commissioner of the Calcutta Municipal Corporation and invited him to correct the tax bills and send those bills to the petitioners' company.;